Asia takes different integration road than Europe–experts
Asia is deepening economic integration to complement closer trade links but the region looks set to take a different road than Europe and a common currency remains far off, officials and experts said Monday.
The approach to financial integration in Asia … will take a different path from what we have seen in other parts of the world, in particular in Europe, said Malaysian central bank governor Zeti Akhtar Aziz.
Given that our region is more heterogeneous in nature, it has different aspirations and different starting points in this integration process, she told a seminar on the sidelines of the IMF-World Bank meetings in Singapore.
More : business.inq7.net
Related Travel Information
Asia not ready for EU-styled integration: MM Lee
Singapores Minister Mentor Lee Kuan Yew has said that it is too early for East Asia to follow the European Unions single currency system or borderless flow of people.
Mr Lee said it would be at least 50 years or more before countries in the region could consider such a level of integration.
He was speaking at a forum organised by Nihon Keizai Shimbun, Japans leading business newspaper, in Tokyo on Thursday.
Mr Lee said: Whether we can have something like the European Union where we can work anywhere in the European
INTERVIEW-Asia chief Martin takes a lashing in Europe row
Asian Tour chief executive Louis Martin said on Thursday he had taken a lashing from his players after being accused of capitulating in a rift with the European Tour over a clash of tournament dates.
Martin agreed to ask the sponsors to move the inaugural Aamby Valley Masters in Mumbai to accommodate the co-sanctioned Indonesian Open, despite the Indian event having being announced six weeks earlier.
We dont like doing business that way and thats what caused the rift, Martin told Reuters at the Asian Open, which is also co-sanctioned.
We came to a stalemate
Africa: World Bank Study Urges Africa Trade With Asia
Africa should embrace growing trade relations between the continent and Asian giants China and India, the World Bank says.
In a new study, the Bank notes the growing Asian investment in Africa, saying it holds growth potential for the continent.
The study, Africas Silk Road: China and Indias New Economic Frontier, recommends an array of trade and investment reforms within and between these regions to deepen the growing South-South ties.
This new Silk Road potentially presents to sub-Saharan Africa -- home to 300 million of the globes poorest people -- a significant and rare opportunity
Rice Says Milosevic One of Most Malign Forces in Europe
U.S. Secretary of State Condoleezza Rice says history has already given its verdict on Slobodan Milosevic, even though he died before The Hague tribunal could pass judgment. Rice says the former Yugoslav president was one of the most malign forces in Europe.
Secretary Rice says it might have been better if The Hague tribunal had been able to render a judgment on Slobodan Milosevic. But, she says, the final verdict of history is already clear, that the former Yugoslav president was one of the most malign forces in Europe for quite
Feared computer worm not so scary in Asia, Europe
A malicious computer worm intent on creating worldwide headaches on Friday caused relatively little damage in Asia and Europe, although a city in Italy shut down their computers as a precaution.
Experts have warned that the worm, known by the names "Kama Sutra," "C-M-E-24," "BlackWorm," "Mywife.E," or "Nyxem," was set to strike infected computers at midnight, corrupting the most common types of computer files.
But many companies and individuals took precautions, cleaning up and protecting their machines this week, and officials in Asia and Europe say they've found little evidence that the worm has
